Sales prices are up for Homes in The Island at Maui Lani

There are many stories about recovering real estate markets throughout the country and today we thought we’d highlight a Maui neighborhood in particular that has seen a dramatic recovery for home sale prices. Earlier this year we wrote about Kahului pending home sales leading the market due in large part to renewed buyer interest in Maui Lani homes for sale, now we are almost through 2013 and have some great numbers to report on the comeback of The Island at Maui Lani.

The Island at Maui Lani

2012 was a rough year for home sales in many Maui neighborhoods and Maui Lani was no exception: The Island at Maui Lani saw the average sales price drop to $560,250 and the number of home sales dwindle to only 6. The the rebound is in full swing and we already have 10 homes sales in The Island at Maui Lani with the average sales price up 29.29% to $724,400.

Golf frontage home sales signal improving market

One key market aspect to examine when looking at The Island at Maui Lani is to track the sales of homes that front the golf course. Homes that front golf course always fetch a higher price and increases in sales of this type signal that buyers are willing to buy at those higher price points. In 2012 there were no golf home sales but in 2012 there were 4 homes sold fronting the fairways.

Recent Sales at The Island

7 Puu Ehu Place sold on 07/08/2013 for $635,000. This was a two story home with 4 bedrooms, 2.5 bathrooms and 1,845 square feet of living area. This sale was only $4,000 below the original asking price of $639,000.

19 Haipule Place sold on 07/05/2013 for $715,000 after only 33 days on the market. Two story home with 4 bedrooms, three bathrooms and 2,444 square feet of living area.